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Verdicts & Settlements
Since Milberg’s founding in 1965, the firm has recovered more than $50 billion for our clients while prompting meaningful changes in corporate governance.
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See More$100 Million Settlement – Chase Bank USA, N.A. “Check Loan” Contract Litigation
In re Chase Bank USA, N.A. “Check Loan” Contract Litig., No. 09-2032 (N.D. Cal.)Milberg served on the Executive Committee representing the class in this action against JP Morgan Chase & Co. The complaint alleged that Chase improperly increased by 150% the minimum monthly payment required for customers who entered into balance transfer loans with “fixed” interest rates that were guaranteed to remain so for the “life of the loan.” Milberg and its Co-Counsel achieved a $100 million settlement for the class. -
See More$460 Million Settlement – Raytheon Co. Securities Litigation
In re Raytheon Co. Securities Litigation, No. 99-12142 (D. Mass.)Milberg served as Lead Counsel in this case, which alleged that a major defense contractor failed to properly write down assets on construction contracts. In 2004, Raytheon and its auditor, PricewaterhouseCoopers LLP, settled for a total of $460 million. -
See More$180 Million Settlement – Blessing v. Sirius XM Radio, Inc.
In re Blessing v. Sirius XM Radio, Inc., No. 09-10035 (S.D.N.Y.)This antitrust case stemmed from the 2008 merger of Sirius Satellite Radio, Inc. and XM Satellite Holdings, Inc. that created Sirius XM, the nation’s only satellite radio company. The plaintiffs alleged that the merger of the only two U.S. satellite radio providers was an illegal move to eliminate competition and monopolize the satellite radio market. Milberg achieved a settlement for the class valued at $180 million. -
See More$138 Million Settlement – Biovail Corp. Securities Litigation
In re Biovail Corp. Securities Litigation, No. 03-8917 (S.D.N.Y.)Milberg, representing Local 282 Welfare Trust Fund and serving as Co-Lead Counsel, litigated this securities action alleging that defendants made misleading statements concerning Biovail’s financial results and its drug, Cardizem LA. Following substantial discovery, including depositions across the U.S. and Canada, Milberg obtained a $138 million settlement for the class, and Biovail agreed to institute significant corporate governance changes. -
See More$90 Million Settlement – Royal Dutch/Shell Transport ERISA Litigation
In re Royal Dutch/Shell Transport ERISA Litigation, No. 04-1398 (D.N.J.)An ERISA breach of fiduciary duty class action against the Royal Dutch/Shell Oil Group of Companies on behalf of certain of the companies’ U.S. employee investment plan participants. The $90 million settlement included important provisions regarding the monitoring and training of individuals appointed to be ERISA fiduciaries.
